Sales Funnel Management

 

A sales funnel is a visual representation of the journey from your prospect’s first contact with you until a completed purchase. It helps your sales team understand where they need to follow up or alter the sales process due to drop off in the funnel.

Sales Mantra does have a feature of Sales Funnel Management which helps the sales reps to manage their prospects as cold and hot. A sales funnel is directly connected to the customer journey phases, which can be sorted into three parts: top, middle, and bottom.

This can translate into the sales funnel structure on your part as prospects going through Untouched > Contact made (Leads)  > Qualified > Proposal Presented > Negotiation > Won.

Top-performing sales reps know the steps of their sales funnel inside out, from cold calling to finalizing the sale. There are two key reasons for this:

They can address customer’s key needs and deliver the right message at the right time, and

They can scale their sales process, forecast their sales and revenue, and hit their goals.

In other words, a well-defined sales funnel improves customer’s journey as well as company’s health.

Stages of the Sales Funnel-
1. Creating awareness and Discovery- This is the first stage where the sales reps try to spread the awareness of the product and wants to know about the client’s/prospect’s problem.
At the top of the sales funnel, your prospect wants to feel educated and confident to be able to talk about their questions and problems when the time comes.

2. Researching the Solution- In this stage, the prospects are not cold to touch. They know about you and somehow interested in your product/ service. Here, you try to identify and search for the solution for them.   Now the cold leads turn into Qualified Leads as you ask them about their problem and identify if your product is the right fit for them or not.

3. Making the final decision- This is the final stage where you and your prospect both know everything about each other and the product. This is when your qualified leads go through sales proposal and negotiation phases, after which you ideally win their business.

Sales Mantra has developed this feature so  that all the communication between the sales rep and the prospect can be maintained and the next time when the sales rep takes the follow up  with the prospect can discuss on the same line.
Moreover, it also helps the organization in case any sales rep leaves the organization, complete communication is saved and other person can pick it up very easily from there.